Architecture Breakthrough

Oct 12, 2026 · R&D Management

How Chinese Banks' Precious Metals Offerings Deviate from Standards — and Why Paper Gold Is Disappearing

The article maps the official five-category classification of agency precious metals business against actual product lines at ICBC, China Merchants Bank, and Minsheng Bank, reveals that account precious metals (paper gold) have been phased out since 2021 due to regulatory reclassification as derivatives and the 'Oil Treasure' fallout, and contrasts paper gold with the now-favored accumulation gold across eight dimensions including leverage, physical delivery, and target users.